“It seems funny to still be talking about the pandemic, but we’re still working through the financial movements and implications that happened as a result of that.”
Kate Scott-Dawkins, GroupM’s global president of business intelligence, tells Jack Benjamin why WPP’s media-buying arm is forecasting a slowdown next year in global adspend despite tentpole events such as the Olympic Games and the Euro 2024 football championships.
>> The latest expectations for the global ad market;
>> The state of the UK ad market;
>> The year in retail media;
>> TV’s transition away from linear;
>> How the sluggish Chinese economy has both helped and hurt the global ad market;
>> And digital’s overall dominance.
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Each December, GroupM, the investment arm of WPP, releases its annual This Year Next Year report. The report highlights an all-encompassing view of the global ad market, summarising both the past year, and looking forward to what we can expect from the next year and over the next five years.
This year’s report estimated global ad revenue growth to be 5.8% to total $889bn. GroupM anticipates next year will see a slight slowdown to 5.3%.
A full write-up of the This Year Next Year report can be read here.